Domestic iron ore concentrate prices fell this week as supply recovered and mills pressured for lower procurement costs. With more mines expected to resume output and blast-furnace hot metal demand likely to slip, prices may ease further next week.
Iron ore futures edged up while spot prices slipped slightly at Qingdao. Port inventory fell, but arrivals and pig iron output declined, leaving prices likely to consolidate in the short term.
Asia
Grey Cast Iron prices in Asia remained largely stable with a slight downward tendency during Q1’26. In China, weak steel demand and continued accumulation of port inventories limited aggressive procurement activity. Feedstock costs were marginally higher quarter-on-quarter by around 1.59%, but stable pig iron production and cautious steel mill operations prevented stronger upward price movement in Grey Cast Iron. However, by the last month of the quarter, the Middle East conflict also disrupted shipping through the Strait of Hormuz, affecting Chinese steel export routes and reducing export efficiency. Elevated freight costs and logistical delays increased transaction costs, while buyers adopted conservative purchasing strategies amid uncertain export demand.
Europe
In the European region, Grey Cast Iron prices followed a stable-to-soft trend due to moderate demand and raw material import dependency. Higher freight costs, shipping uncertainty, and elevated energy expenses pressured production economics. However, sufficient global supply and comfortable inventories prevented any major shortage. Demand from construction and manufacturing remained moderate, keeping prices range bound.
North America
In Q1’26, Grey Cast Iron prices remained balanced as stable steel production supported demand from industrial and automotive sectors in the North American markets. Higher freight and shipping disruptions raised delivered raw material costs, but increased shipments from Australia and Brazil ensured adequate supply. Controlled steel mill output and steady demand from machinery, transportation, and infrastructure kept the market stable.
Analyst Insight
According to Procurement Resource, in the near term, Grey Cast Iron prices are expected to remain stable to firm as freight costs and supply chain uncertainties continue to influence raw material procurement.
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Asia
During the second half of 2025, grey cast iron prices in Asia followed a mixed but mostly stable trend. At the start of the period, demand improved slightly as steelmakers and foundries increased output and restocked raw materials. However, this support weakened later when China introduced production controls in major steel and iron-producing regions. These restrictions reduced demand, which affected grey cast iron consumption. Extreme summer heat also slowed construction activity, lowering demand from infrastructure and machinery sectors. Toward the end of the year, some improvement was seen as manufacturers resumed operations ahead of the festive season and restocked inventories.
Europe
In Europe, grey cast iron prices remained largely stable with mild pressure during H2’25. Demand from automotive and construction sectors stayed weak, limiting fresh buying interest. Several foundries reduced operating rates and relied on existing inventories instead of sourcing new material. Imports from key suppliers such as Brazil and Ukraine remained steady, keeping supply comfortable. Although energy and production costs stayed high, weak downstream demand prevented producers from pushing prices upward.
North America
North American grey cast iron prices showed slight fluctuations but remained mostly stable in the second half of 2025. Early optimism from infrastructure and manufacturing expectations provided some support, but this faded as global steel markets softened. Tariff uncertainty and trade disruptions affected steel and metal product manufacturers, especially in Mexico. Buyers remained cautious and focused on managing inventories rather than expanding purchases. Overall, prices moved within a narrow band, reflecting steady supply and moderate demand.
Grey cast iron is an allow of iron and carbon with graphite flakes. The alloy has many striking features such as thermal conductivity, vibration damping, etc. This makes it a suitable choice in the manufacturing of engine blocks, pipes, and machinery parts. Its unique structure grants corrosion resistance and wear properties. However, its lower tensile strength and impact resistance, compared to steel, make it suitable for applications where these qualities are less critical.
Automotive industry, Wind turbine components, Machine Tool Structures, Hydraulics and pneumatics
TATA Steel, S.A.I.L, Doston Iron Castings, Ashland Foundry and Machine Works, Dandong Foundry, Willman Industries
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
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Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The cast iron and pig iron scraps in cupola furnace are melted in the initial step of this process. The liquid mixture is then put into molds made of dry sand. The castings are then retrieved, cleaned, and finished for upcoming commercial uses after the molds have had time to cool.
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